Explore the Syllabus
Syllabus topics & weightages
Rational economic theory10%
Measures of investment risk10%
Asset valuations30%
Liability valuations20%
Option theory30%
Indicative syllabus coverage. Question distribution can vary by sitting.
01Rational economic theory
Utility theory, attitudes to risk, stochastic dominance, and behavioural finance.
02Measures of investment risk
Variance, semi-variance, shortfall probabilities, Value at Risk, and expected shortfall.
03Asset valuations
Portfolio theory, CAPM, multifactor models, efficient markets, stochastic security-price models, interest rates, and credit risk.
04Liability valuations
Ruin theory, run-off triangles, chain ladder, average cost per claim, and Bornhuetter-Ferguson methods.
05Option theory
Forwards, futures, options, swaps, no-arbitrage pricing, binomial trees, risk-neutral valuation, Black-Scholes, and hedging.
Examination structure
| Particulars | IAI (India) | IFoA (UK) |
|---|---|---|
| Paper A — Theory | Objective + descriptive | Descriptive |
| Paper A duration | 3 hours 15 minutes | 3 hours 20 minutes |
| Paper A weightage | 70% | 70% |
| Paper B — Practical | Excel-based | Excel-based |
| Paper B duration | 1 hour 45 minutes | 1 hour 50 minutes |
| Paper B weightage | 30% | 30% |
| Examination mode | Centre-based online | Exam centre or remotely invigilated online, subject to institute arrangements |
Check your institute’s current examination rules, durations and timetable for your sitting.
YOUR STUDY ROADMAP
How to Use Your Bimankik Resources
- 01
Watch recorded lectures
- 02
Study Bimankik Core Notes
- 03
Revise with Magic Summary Sheets
- 04
Join live doubt-solving sessions
- 05
Attempt mock papers (2 sets)
- 06
Practise on Exam Abhyas
- 07
Ace the exam
Meet your tutor
Kunal Choudhary
Kunal helps students approach CM2 through exam-oriented learning and clear explanations of complex concepts.
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